FACTORS AFFECTING STRATEGIC PLAN IMPLEMENTATION: IN CASE OF OROMIA BANK

Abstract

The general purpose of this study was to examine the factors affecting strategic plan implementation: In a case of Oromia Bank. In this study quantitative research approach and descriptive research design applied. The study adopts purposive and stratified random sampling techniques to select the desired sample size. To conduct the study, 225 sample sizes were selected, out of the distributed questionnaires, 211 questions collected and analysed by using SPSS version 20 software. The collected data were analysed by using descriptive and inferential statistics. The findings by descriptive analysis on all factors that affect the strategic plan implementation indicated that strategic plan implementation was affected by organization structure, organization policies and procedure, resource allocation, leadership, and external environment factors. All the considered variables have positive correlation with strategic plan implementation in Oromia Bank. The study revealed that independent variables (organization structure, organization policies and procedure, resource allocation, leadership, and external environment) have positive/direct relationship effect with strategic plan implementation. Model summary result revealed that, 67.5% company strategic plan implementation (dependent variable) affected by variation of the independent variables. The study recommended that Oromia Bank has to align the supportive organizational structure, sufficient financial and non-financial resources, engaged leadership system, initiative policies and procedures, immediate reaction to the external environment strategic plan implementation in operation by minimising the internal and external factors which affect the strategic plan implementation.